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Supplies of gas to Turkey and Europe via offshore pipeline TurkStream have increased more than twofold in a year since the launch of the project, according to Russian energy giant Gazprom. The gas route marked its one-year anniversary on Friday. Since it came into operation on January 8, 2020, Gazprom …

Oil prices held near 11-month highs on Friday and were on track for a strong weekly gain as Saudi Arabia’s pledge to cut output continued to buoy market sentiment. Brent crude climbed 13 cents, or 0.2%, to $54.51 a barrel. It touched $54.90 on Thursday, the highest since February, Reuters …

Saudi Arabia’s surprise announcement that it would cut 1 million barrels per day (bpd) beyond its share of OPEC+ cuts in February and March has refiners in Asia scrambling to secure supplies from Europe, with record purchases of North Sea cargoes in one day. Saudi Arabia caught the market by …

The parliament of the German state of Mecklenburg-Vorpommern has voted to establish a fund to circumvent American sanctions preventing the construction of the Nord Stream 2, a gas pipeline that will connect Russia and Germany. When completed, it will run from Russia’s Leningrad Region, bypassing the Baltic States and Poland, …

As reported by Reuters, BP has relaunched the sale of stakes in a number of North Sea oilfields it agreed to sell to Premier Oil before Premier was taken over last year, industry sources said on Thursday. BP originally agreed to sell its interest in the fields in the Andrew …

Oil prices hit their highest level in nearly a year on Friday, gaining 8% on the week, supported by Saudi Arabia’s pledge to cut output and strong gains in major equity markets. Brent crude settled at $55.99 a barrel, climbing $1.61, or 3%, on the day and 8.1% on the …

Shell Canada’s president says the oil company supports the intent of Canada’s new clean fuel standard, as his company seeks to reduce its own emissions through a $350-million investment in a Quebec biofuel plant and the possible incorporation of solar power into an Alberta refinery. Shell’s backing of the Montreal-area …

An Indian state government has announced the world’s largest floating solar project will begin operations in 2022-23. The government of Madhya Pradesh made the announcement concerning the 600MW capacity facility on the Narmada river. The floating panels will be installed in the backwaters of the Omkareshwar dam and cover approximately …

Iraq is still waiting for Iran to resume supplying the country with sufficient amounts of gas for power generation, after the US granted Baghdad a 90-day waiver to continue to import electricity from Tehran on Dec. 30. “The reason for power shortages in provinces is the continuing slashing of Iranian …

A South Korean delegation on Thursday departed for Tehran to negotiate an early release of an oil tanker and its crew members seized by Iranian authorities, according to local media. The delegation led by Koh Kyung-sok, director-general of the Foreign Ministry’s Africa and Middle Eastern affairs, left early morning along …